In recent Adviser Home research we asked advisers to tell us their priority areas for content and information. Top of the list was retirement income so we are pleased to offer a series of thought provoking resources from Just, all focused on client income choices in retirement.
Advisers, of course, place the highest priority on the issues facing clients in retirement; mitigating risk and preserving capital whilst delivering income.
It’s well established now that managing risk in retirement brings its own special challenges. Clients want the best of all worlds – access and control along with the reassurance that their money will last as long as they do.
But in research carried out by Just, 57% of advisers still used the same investment strategies, for both accumulation and decumulation.
The rigors of pound cost ravaging
What’s required? - a robust advice process specific to decumulation with an investment strategy that can adapt to the post retirement rigors of pound cost ravaging and sustainability of income for life.
A de-risked decumulation strategy also sets the scene for what lies ahead for retired later life, the vulnerability challenges, and changes to risk perception and capacity for loss.
Advisers are at the centre of this revolution in retirement thinking; retirement will be a huge part of most people’s lives, and as such needs the focus, consistency and surety that a decumulation proposition can offer.
You can read more about this fundamental issue in this Think article ‘De-risking retirement income strategies.’
